Everyone imagines owning a home one day – a place to call your own. But as property prices go higher and higher, the reality of owning realty can sometimes seem a distant dream. Renting, even in expensive cities, then makes more financial sense. But how do you decide whether renting or buying property is best suited to your situation?

The decision can be complicated – budget, personal and long-term financial goals all come into play. Let’s evaluate the pros and cons of renting and buying a house.

What are the benefits of renting?

There are several benefits to renting a home – especially if you do not have the savings for a downpayment. Here are the main reasons why renting makes sense:

1. The financial investment is not a lot

Perhaps the reason why most people choose to rent over buying a home is that the investment is lower. Paying monthly rent leaves you with much great financial flexibility than putting down a large downpayment in addition to monthly EMIs. There are also other costs that you can save on when you rent. For instance, if you rent a fully-furnished home, you do not have to shell out a large amount of money buying furniture and kitchen appliances. Most household renovations and repairs are usually taken care of by the landlord, too.

All these terms and conditions are usually stated in a rental contract that has been agreed upon and signed by both the landlord and the tenant.

2. You aren’t tied down geographically

When you rent a home, it is always easy to relocate. This can be especially useful when you work in a field that requires you to move every few years. It’s also helpful if you have not decided on which city you would like to live in for the long haul. Renting gives you the freedom to take on work at new locations without having to worry about the financial constraints of having to keep paying an EMI on a home loan. You can be adventurous and move across the country for new professional opportunities and experiences every few years. This is usually a big draw for younger individuals who are still deciding on where to set up base.

3. There is no investment risk

Buying property is not always the best investment. Investing in real estate can turn out to be a high-risk and low-return investment for a middle-class Indian. Often, you have to empty out your life savings in order to buy a property and then take out a home loan for decades, too. As far as investments go, buying a home isn’t always a safe bet. If you don’t want to sink your savings into property investment, renting can be a good option.

Appreciation isn’t the only worry when buying property, risks also include getting duped, construction integrity, and development delays when buying under-construction property. Buying in developing areas may yield higher appreciation than buying in already developed areas but it can be a gamble as development isn’t always guaranteed and you could be left with a low return on your investment. If you are looking to invest for good returns, perhaps shares, mutual funds and other investments can better suit your financial goals.

4. You know exactly how much you will need to pay

When you rent your home, the monthly rent is fixed and agreed upon so you know exactly how much money you need to set aside each month. However, if you take a home loan (with a floating interest rate) your EMIs can fluctuate according to various economic factors. When the interest rates go up, your EMI could increase significantly, needing you to reevaluate your monthly budget and spending.

5. There’s less paperwork

When you buy a home, you have to go to banks to apply for a home loan, submit paperwork and adhere to various guidelines and checks. This can be a lengthy and time-consuming process. Every detail in the contract needs to be read and understood carefully before signing and often requires consultation from a legal professional. The whole process can take weeks to months. With renting a house, a leave and license agreement is drawn up and signed with relatively few hassles as the risk involved is generally very low as the duration of the agreement does not exceed 11 months.

What are the benefits of buying a house?

Buying a home is a dream for many and it certainly has its advantages. Here are some important benefits of investing in a home.

1. It is an emotional purchase

Buying a house is sometimes less about the investment and more about feeling emotionally and physically secure that you have a place of belonging; a space you can call your own. We all dream about living in our own ‘owned’ homes when we are young. Our parents usually owned their home and it’s something that has been ingrained in us since childhood. With the cost of homes increasing drastically year by year, buyers often take the ‘the sooner, the better’ approach, putting down a down payment as soon as finances allow them to avoid paying even more in the future.

2. You can live as you want

When you have a place of your own you can decorate, renovate or reconstruct exactly as you would like it. If you have strong design and style ideas, having your own home is the perfect canvas to showcase your personal tastes. When you rent, however, you are obliged to get permission from the landlord for as little as a drilled nail into the wall. If you rent an already furnished home, you will be stuck with furniture and decor that don’t necessarily suit your taste and personality.

3. Enticing offers

As Covid-19 hit the real estate market pretty hard, builders are giving potential buyers attractive incentives during this recovery phase. Developers may offer good payment schemes and special deals to secure their commitment. For those looking to buy property, now is the time to benefit from such offers.

4. Feeling financially secure

If your EMIs are comfortable for you to pay, taking out a home loan can feel like a step toward embracing greater financial freedom in the future. Regular mortgage payments can cost a little more than monthly rent in some places and the benefit is that you are getting your own place at the end of it. Renting can seem like a waste of money to some people, especially in big cities where the rates can be unreasonably high and unpredictable.

5. Appreciation

When an area is developing, it is likely that property in that area will appreciate simultaneously. Therefore, if you happen to live in a location that shows signs of rapid development and you plan on staying in this area for a while, buying property can be a sound investment. For one, you will have a place to stay, of course. Secondly, you could end up with good returns on your investment rather than just spending money on rent.

Is renting or buying better in 2023?

Investing in property has always been seen as a positive long-term investment in the Indian market. With the government focussing on development and infrastructure, property prices are likely to continue to rise. However, whether this matches up to other investment returns depends on a host of factors. Owning a home is much more about your personal standing and desires than investment for many. But if you are set on getting the most bang for your buck, perhaps you will find that renting is more suited to your needs.

Manual bank reconciliation can be tedious and time-consuming. Society Admins can spend hours logging into the bank and manually downloading and importing the bank statement files. Simultaneously, they have to ensure they don’t miss any bank statements required for reconciliation.

However with the remarkable feature of “Automated Bank Reconciliation” on Mygate ERP, the process of reconciling all payments becomes a breeze eliminating the need to sift through piles of paperwork or manually cross-checking digital records.

Step by step guide to automate bank reconciliation

1. Uploading the bank statement

• Choose the desired ledger and select the date range for the entries you wish to reconcile (e.g., 1st to 15th February).
• Opt for the specific bank ledger you want to automate reconciliation for (e.g., HDFC Bank).
• Select the appropriate format that matches your bank statement:
  • Dr/Cr & Amount format – If your bank statement displays debit or credit labels in one column and the corresponding amounts in another column, select this option.
  • Withdrawal & Deposit Amounts format – If your bank statement has separate columns for debit and credit amounts, choose this option.
• Identify and select the corresponding columns in your bank statement for labels, amounts, and bank dates.
• Upload your bank statement in either .csv or .xlsx format.

2. Verification of Reconciled Items

• After uploading the statement, you’ll find a comprehensive list of the reconciled items on your screen, with the bank dates pre-filled for your review.
• The total number of entries that have been auto-reconciled, along with their corresponding value, will be prominently displayed at the top of the list for your convenience.
• While online receipts made via the MyGate app are known to the software and are perfectly auto-reconciled, it is advised to glance over the cheque receipts given that the cheque numbers can be the same for two banks in some odd cases.

Reject the cheque reconciliation entry if any discrepancy surfaces and go ahead to submit.

Validations for cheque payment entries

To optimize the performance of this tool, we have implemented a couple of validations for cheque numbers during receipt creation:

• Cheque numbers must consist of numeric values only.
• The maximum length of a cheque number is 6 digits.

We strongly advise our dashboard users to input the cheque number exactly as it appears on their bank statement. If the number entered begins with leading zeros (e.g., 000123), but the statement displays it without them (e.g., 123), the corresponding entry will not be reconciled

Choosing an ERP solution that provides all the bells and whistles needed for a truly automated bank reconciliation process is difficult, and Mygate perfectly fits the bill providing you all the necessary benefits to efficiently manage the finances of your society.

The terms ‘unfurnished’, ‘semi-furnished’ and ‘fully-furnished’ are often thrown around when discussing rental apartments. Each term refers to the amount of (or lack of) fittings, furniture and furnishings that are provided with the home that is on offer. Often, potential renters look out for a specific type, depending on their needs and whether or not they already own furniture. Each type of home has its own pros and cons. It’s important to first understand what is included and what is excluded under each category so that you can choose the right direction to go as you begin your rental journey.

What is an unfurnished apartment?​​

Apartments are defined as unfurnished if it does not include any furniture. The apartment will not have sofas, beds, tables or any other furniture. It may have basic kitchen appliances such as a fridge or stove but even these may not be included. Unfurnished apartments are great for renters who have all their furniture and appliances already. Those looking to stay for long periods usually choose unfurnished apartments as they can decorate it and design the space to make it according to their own preferences and tastes.

Pros:

• You can decorate your space any way you choose with your furniture.
• You aren’t forced to live with an unsightly cupboard or an unmovable piece of furniture that takes up an unreasonable amount of square footage. You are free to change up your furniture as you wish.
• If you already have all your own furniture this arrangement is ideal as you will not have to sell or place your items in storage.
• The security deposit and the rent for unfurnished apartments are generally lower than that of semi- or fully-furnished apartments.

Cons:

• If you don’t like furniture shopping, an unfurnished apartment can be an unnecessary annoyance.
• Purchasing a home’s worth of furniture can cost a lot of money which you may not want to spend on a rental.
• If you move out, you will have to take all your furniture with you and find a home that is suitable to accommodate it on your next move.

What is a semi-furnished apartment?

These are apartments that have the basic fittings installed, such as lights, fans, etc. and may contain some furniture as well. This apartment will have all the basic kitchen and bathroom fittings and maybe some storage cabinets, cupboards and beds. But not all the furniture that you need to live in it will be provided. For those who already have some of their own furniture and decor and love to do their spaces up according to their liking, semi-furnished apartments work. Let’s take a look at the main pros and cons of a semi-furnished apartment.

Pros:

• The basic fittings are done such as lights, fans, sinks, etc. The rest of the furniture isn’t difficult to purchase and install as no breaking and construction work is required to the structure of the flat.
• You get to choose at least some of the furniture and appliances you want to have in your home.
• The security deposit and the rent for sem-furnished apartments is generally lower than that of fully-furnished apartments.
• For the furniture that is yours, you don’t have to worry about damage or wear and tear being charged to your security deposit if anything happens.

Cons:

• You have to move your own furniture each time you move into a new home. It can be costly as well as a big effort with packing and unpacking.
• Buying furniture and decor isn’t cheap. To furnish a home you must invest a decent amount of money.
• You may not enjoy having to design and furnish a home at this point in your life which can be an added stress if you already have a hectic schedule.

What is a furnished apartment?

The term ‘furnished apartment’ does not have a single definition that includes specific items that will be included in a home. This means that the owner is not obligated to provide a particular number of items or amenities to the person who is renting the home.

A furnished apartment will usually have basic furniture (especially large items) and furnishings provided. This could include shelves, cupboards, storage units, beds, dining table, etc. It most often also includes fittings such as lights and fans. It can also include appliances such as a refrigerator and air-conditioner.

It is possible to negotiate with the landlord for more amenities. If they are keen to have you as a tenant they may provide you with what you need. The owner is not obliged to provide the renter with all the amenities you need as long as he is clear about what is available when the agreement is made.

Furnished flats are great options for younger people who don’t want to invest in furniture or who are planning to live in an area only for a short period. Students, single people, or young couples who are new to a city may all prefer to rent furnished apartments to avoid the hassle and costs of purchasing furniture.

Pros:

• You are provided with the basic fittings such as lights, fans, sinks, etc, as well as furniture such as cupboards, tables and beds.
• You don’t have to spend a lot of money on furniture and doing up the flat as most of this is already included.
• You won’t have to spend time and effort buying and setting up furniture.
• You do not have to move your entire home’s worth of furniture each time you move into a new home.

Cons:

• The security deposit and the rent for a furnished apartment is generally higher than that of semi-furnished apartments.
• If you don’t like the furniture, you will have to put up with it when living in the apartment. You will likely not be allowed to remove any furniture from the flat.
• If you damage the furniture it could come out of your security deposit.

What is a fully-furnished apartment?

A fully-furnished apartment has all or almost all the amenities that a resident would require for comfortable living. This includes furniture such as cupboards, beds, sofa sets, chairs and tables and appliances such as air-conditioners and water heaters. It may even include common kitchen appliances such as a refrigerator, electric kettle, stove and microwave oven.

A fully furnished apartment is hard to find as the brunt of the wear and tear costs of furniture and appliances are then borne mainly by the landlord. Usually, it is only serviced apartments that contain all the amenities needed without needing the resident to contribute his own. Serviced apartments also contain soft furnishings such as curtains and linens, as well as cookware, crockery and cutlery for the kitchen. These apartments are few in India and are generally used for short-term stays of weeks to a few months.

Pros:

• You are provided with all the fittings and furniture you need. Serviced apartments even come with bed linen and soft furnishings.
• You won’t have to spend any money buying furniture or time looking for the right size and style of furniture to suit your home.
• You do not have to move your entire home’s worth of furniture each time you move into a new home.
• This arrangement is ideal for professionals who may need to move a lot due to work as well as those who do not want to invest in their own furniture.

Cons:

• The security deposit and the rent for fully-furnished apartments are generally higher than that of semi-furnished apartments.
• Even if the furniture is not to your taste, you will have to bear with it when living in the apartment. You will likely not be allowed to remove any furniture from the flat.
• If you damage the furniture it could come out of your security deposit.

For proper handling of accounting data within our societies, we maintain partitions of financial year periods. Hence, it is very important, like previous years, to process all the transactions from FY 2022-23 to 2023-24 to ensure there is no arrear difference in your bills.

 

1. 1. To help out all the societies in their daily activities, we are automatically transferring the data for the 2022-23 Financial Year to the 2023-24 Financial Year on 1st April 2023.

1. 1. However, if you are doing any changes to FY 2022-23 or any other previous year on or after 1st April 2023, it is strictly advised to process that year with the below steps:
      Go to Financial Year (within the header of the dashboard home page or Settings >> Financial Year)
      Go to Financial year-end processing >> Select the year you have made the changes >> Click on Process >> Wait until the process is done.

Again, in order to remind our accounting users of updated transactions in a previous year that have not been processed, we have implemented a warning message on the dashboard.

Under the Financial Year button on the header of the dashboard home page, an alert symbol along with the message mentioning the exact Financial Year yet to be processed is highlighted!

There are several problems that land owners may face in India where the judicial system lags and unlawful acts can often be committed with little consequence. Under the umbrella of ‘property problems’, perhaps the most common and feared is illegal property possession. This happens when a person, who isn’t the owner of a property, occupies the property without the permission of the owner. The squatter may go to great lengths to prove ‘ownership’ of that land by forging documents and lying about their right to it. Plots of land are usually more likely to be grabbed by unlawful possession over homes such as apartments as homes are usually easier to keep track of and have a greater level of security to protect against squatters.

Illegal property possession can be a huge problem as, when a squatter lives on a property (uninterruptedly) for a period of 12 years, they can even claim a right to own it through a legal loophole called adverse possession. Through adverse possession, a non-property owner can actually gain ownership of the property they have been occupying if certain criteria have been met.

Therefore, it’s vital that property owners understand what illegal possession and adverse possession are to know how to prevent losing their properties.

What is illegal property possession?

Illegal property possession is when a person who does not own a property legally occupies it without the permission or consent of the owner.

If the person occupying the property has the consent of the owner to use the property then they would be legally valid in doing so. This happens when a property is rented or leased out to tenants. In these cases, the tenants are given limited rights to use the property for a specified time, outlined by the landlord. If the tenant continues to stay on the property after the specified time has passed, then they would be in illegal possession of the place.

What is adverse possession?

Adverse possession is when a tenant occupies a property for over 12 years consecutively and without interruption. So, if a person has lived on a property or land that has no title for 12 years consecutively with the owner’s consent, they have the legal right to claim ownership of that land. When an owner fails to remove a trespasser from their property over a certain time period, that owner can lose ownership of their property.

The term ‘Adverse Possession’ was established by the Supreme Court of India in the case of ‘Amarendra Pratap Singh v. Tej Bahadur Prajapati’. It was first introduced by British Rulers and established to help the usage of land. But it later started to negatively impact property owners when squatters and tenants started to take advantage, using the law for hostile possession and denying the land owner their right to their property.

Dealing with illegal possession

Property owners need to be vigilant to make sure their property is not at risk of being possessed illegally. It’s not just strangers that are capable of duping well-meaning landlords, tenants too may have ill intentions when residing on your property. Here are some precautions and measures to take to keep your prized possession safe.

1. Check frequently with visits

If you leave your property unattended, you are putting it at great risk of criminals trying to seize it. This is especially true for property located in expensive prime areas. Ensure that your property does not look like it has been forgotten. Keep it maintained and make security arrangements if you cannot attend to it regularly. This could include getting a security guard if you have a house and land, and constructing a boundary wall. The best way to ensure that your property stays safe is to check on it often with personal visits.

2. Change your tenants often

Do not let the same tenant reside at your property for an extremely long period of time. It’s important to change your tenants after a few years and have a legally-valid rental contract that states all the terms and conditions that the tenant is to follow clearly. Most landlords rent out their homes for 11 months before the rent agreement is renewed. This gives the landlord the choice to continue with or evict their existing tenant legally.

3. Construct a boundary wall

A boundary wall is very essential for plots and land parcels. Even if you live on or near the property, a clear boundary wall is a necessary expensive as it gives outsiders clear indication that the property is owned. A residential unit can also be constructed to limit the interest of land sharks. If you happen to live away from the area of your property (especially if you are a non-resident Indian – NRI), it is advisable to have a trusted caretaker that stays on the property or visits regularly to prevent illegal activities.

4. Put up a warning sign

Even with a boundary wall erected, it is advisable to include a warning sign on the outside of your property. Putting up a no-trespassing sign board can deter criminals away. Also mention that the property is private and that trespassers will be prosecuted.

5. Be vigilant when you rent out your property

In some cases, tenants may refuse to vacate properties they have rented. This may be rare but it is not unheard of. Make sure that you verify your tenants carefully before agreeing to rent out your space to them. The tenancy has to be protected with a registered rent agreement to avoid legal pitfalls. Once the property is rented out, keep an eye out for strange activities or behaviour with regular checks with the tenant as well as visits. If you live away, neighbours or friends and family nearby should check on the premises in your absence.

Taking legal action against illegal possession of property

There are various provisions of the Indian law to help those who have fallen victim to illegal activities regarding property possession.

If this should happen, you must first file a written police complaint with the city’s superintendent of police (SP) of the area where the property is located. If the SP does not acknowledge the complaint, you can file a personal complaint in the court concerned.

You can file an FIR as well. Keep a copy of the complaint with you. The authorities will have to proceed under Section 145 of the Code of Criminal Procedure (CRPC).

There is also the Sections 5 and 6 of the Specific Relief Act, for those who have been dispossessed of their property. They may recover their right to the property by proving previous possession and subsequent illegal dispossession.

Indian Penal Code sections that apply to situations regarding illegal property possession

1. Section 441: Defines criminal trespass

“Whoever enters into or upon property in the possession of another with intent to commit an offence or to intimidate, insult or annoy any person in possession of such property, or having lawfully entered into or upon such property, unlawfully remains there with intent thereby to intimidate, insult or annoy any such person, or with intent to commit an offence, is said to commit ‘criminal trespass’.”

2. Section 420: Deals with cheating and dishonestly inducing delivery of property

“Whoever cheats and thereby dishonestly induces the person de­ceived to deliver any property to any person, or to make, alter or destroy the whole or any part of a valuable security, or anything which is signed or sealed, and which is capable of being converted into a valuable security, shall be punished with imprisonment of either description for a term which may extend to seven years, and shall also be liable to fine.”

3. Section 425: Deals with mischief

“Whoever with intent to cause, or knowing that he is likely to cause, wrongful loss or damage to the public or to any person, causes the destruction of any property, or any such change in any property or in the situation thereof destroys or diminishes its value or utility, or affects it injuriously, commits ‘mischief’.”

4. Section 442: Deals with house trespass

“Whoever commits criminal trespass by enter­ing into or remaining in any building, tent or vessel used as a human dwelling or any building used as a place for worship, or as a place for the custody of property, is said to commit ‘house-trespass’.”

5. Section 503: Deals with criminal intimidation

“Whoever threatens another with any injury to his person, reputation or property, or to the person or reputation of any one in whom that person is interested, with intent to cause alarm to that person, or to cause that person to do any act which he is not legally bound to do, or to omit to do any act which that person is legally entitled to do, as the means of avoiding the execution of such threat, commits criminal intimidation.”

Gurgaon, southwest of New Delhi, is the second-largest information technology hub and third-largest financial and banking hub in India. It is also well-known for its medical tourism industry and has over 250 offices of Fortune 500 companies as well as thousands of startups. Naturally, there are plenty of opportunities here for professionals looking to excel in their careers. This brings a steady influx of students, young professionals and families seeking out new beginnings in the city.

Perhaps you too are planning to move to Gurgaon soon. It’s useful to know the cost of living before you move so that you are prepared with a budget that ensures comfortable living once you are there. The cost of living will have to include multiple components. You will have to account for expenses such as accommodation, transportation, and lifestyle choices. Here is an overview of the cost of living in Gurgaon.

An overview of the cost of living in Gurgaon

Before getting into detail about the cost of living in Gurgaon, let’s look into some general approximates regarding rents and household expenses for different types of residents. We’ll include singles and students, families and couples in our analysis. This is to give readers a basic idea of how much they could be spending in the month. Of course, some costs and expenses like entertainment, travel, shopping and leisure activities are very subjective and can be counted in addition to the estimates below.

Cost of living in Gurgaon: students and singles

1. Housing expenses

If you are single or a student, you will be looking for paying guest accommodation, or one or two BHK to rent on your own or as a shared apartment. 1 BHK apartments in Gurgaon usually cost about Rs 15,000 per month on rent. A 2 BHK apartment can cost over Rs 20,000 per month to rent out.

2. Household expenses

When calculating household expenses, costs usually include paying a cook, a maid, apartment maintenance charges, electricity and internet bills, car or bike wash, grocery and food bills. For those residing in a shared apartment, splitting these expenses can bring your expenses down every month. These costs amount to Rs4000- Rs8000 a month for one person.

Cost of living in Gurgaon: family with kids

1. Housing expenses

If you are moving to Gurgaon as a family, you are probably looking to stay in a 2 BHK flat. Rents for decent apartments can cost around Rs 25,000 – Rs 40,000 per month. Of course, it is dependent on the area you choose to reside in. A home in Gurgaon costs around Rs 80 lakh onwards.

2. Household expenses

If you have a family of three or four members, with school-going children, estimate monthly expenses to include the children’s school fees, clothes and nanny salary. Additionally, there will be regular expenses such as a cook, a maid, apartment maintenance charges, electricity and internet bills, car or bike wash, grocery bills and food bills. This can cost up to Rs30,000 per month.

Cost of living in Gurgaon: couples

1. Housing expenses

The rent of your home is largely dependent on its size as well as the area in which it is in. If you are part of a couple looking for a decent-sized 1 BHK flat in Gurgaon, it costs around Rs 15,000 per month on rent. If you are looking to buy property, the area of the flat, amenities, neighborhood and type of property affect the cost. A 1BHK will cost approximately Rs 40 lakh to Rs 60 lakh in a decent area. In a more affluent area, this cost can go over Rs 1 crore.

2. Household expenses

The monthly expenses for a couple will include costs for house help such as a cook and maid, building maintenance charges, electricity and internet bills, car/bike wash, grocery bills and food bills. This should cost around Rs 15,000 to Rs 20,000 per month for a couple.

How much do things cost in Gurgaon

Let’s dive into the costs of necessities in Gurgaon to get an idea of how to estimate your cost of living in the city.

1. Accommodation costs in Gurgaon

The cost of accommodation will vary according to the size of the flat, the number of bedrooms and the area in which the home is located. On average, 2BHK in Gurgaon costs around Rs22,000 to Rs 30,000 a month to rent. This will not include the security deposit and monthly maintenance that you may have to pay. Here is an overview of the rents in Gurgaon:

1 BHK: Rs 15,000 – Rs 20,000
2 BHK: Rs 22,000 – Rs 30,000
3 BHK: Rs 35,000 – Rs 70,000

2. Commuting costs in Gurgaon

Commuting costs depend on which mode of transportation you choose. Transportation can be a bit of an issue in Gurgaon as most residents choose to use their own vehicles. This leads to heavy traffic and jams during peak hours. The public transport in Gurgaon, while improving, is not as efficient and far-reaching as metros like Mumbai. Even the frequency of buses leaves a lot to be desired. The city is, however, connected well to the Delhi Metro. This makes it easy to travel to Delhi and back when needed.

Using shared autorickshaws and private taxis are also a popular option for the people of Gurgaon. This requires a bit of planning as fares can be high and availability is not always guaranteed.

On average, you can expect transport to cost you between Rs. 4,000 and Rs.5,000 monthly if using your own vehicle. If you have a bike or scooter, expect to spend around Rs. 1500 to Rs. 2000 per month. Those who choose public transport typically spend Rs. 3000 a month.

3. Utilities costs in Gurgaon

Your utilities bills can largely depend on the season in Gurgaon. Summers are extremely hot and humid which makes most residents use their air-conditioners a lot. Winters are cold, with temperations dropping to the 8-10 degrees celcius, so heating may be required in those months. If you live in an area with frequent power outages, you may need to invest in a generator as well, increasing your utility bills.

Also take into account other monthly expenses such as mobile phone bills, internet bills, gas and building maintenance. All of this may be estimated at around Rs 4000 to Rs 6000 per month.

4. Childcare and school fees in Gurgaon

Childcare and school feels varys with the kind of school you send your child to. Regular preschools can costs Rs 2,500 per month or so. International board schools cost much more at around Rs 10,000 a month for preschool. Here’s an stimates of school fees in Gurgaon:
Preschool or Kindergarten, monthly: Rs. 5000 to Rs. 7000
Primary Schools, monthly: Rs. 7000 to Rs. 10,000
International Primary School, Yearly: Rs. 1 lakh to Rs. 2 lakh

5. Grocery costs in Gurgaon

Gurgaon may seem less costly for foodstuffs than bigger cities such as Delhi and Mumbai. If fancy yourself a home chef, your monthly food costs can be brought down significantly. For those who prefer not to cook at home, but want homely meals, hiring a cook is a good choice. This costs around Rs. 2000 to Rs. 4000 per month. Cooking at home will garner you grocery bills of about Rs. 2500–4000 per month.

6. Eating out costs in Gurgaon

There are plenty of great places to get a bite in Gurgaon. From street stalls serving delicious snacks to world-class resturants. So you’ll be forgiven if you want to try it all and overstep your food budget. At around Rs. 1000 to Rs.5000 a month, you can get your fill of Gurgaon’s treats – there is something to suit all budgets.